GUINNOT: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
GUINNOT
Largest movements
- Cash +€30,924
up €30,924 (+93.5%), from €33,079 to €64,004
mainly Net result for the year (+€25,064) and Depreciation (+€10,502)
- Intangible fixed assets -€10,462
down €10,462 (-35.2%), from €29,719 to €19,256
- Receivables within one year -€8,032
down €8,032 (-48.7%), from €16,476 to €8,444
of which Trade receivables: -€11,413
- Reserves +€25,064
up €25,064 (+306%), from €8,192 to €33,256
- Current portion of long-term debt -€7,806
no longer reported in 2025 (was €7,806)
- Tax, wage and social debts -€2,968
down €2,968 (-54.9%), from €5,402 to €2,434
- Trade debts -€2,263
down €2,263 (-66.9%), from €3,382 to €1,119
- Gross operating margin -€8,569
down €8,569 (-16.5%), from €51,944 to €43,375
- Taxes +€6,667
up €6,667 (+419,306%), from €2 to €6,669
- Depreciation -€647
down €647 (-5.8%), from €11,149 to €10,502
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €174,781 | €186,808 | +€12,027 | +6.9% |
| Fixed assets | 21/28 | €29,759 | €19,256 | -€10,502 | -35.3% |
| Intangible fixed assets | 21 | €29,719 | €19,256 | -€10,462 | -35.2% |
| Tangible fixed assets | 22/27 | €40 | €0 | -€40 | -100% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €40 | €0 | -€40 | -100% |
| Current assets | 29/58 | €145,022 | €167,552 | +€22,530 | +15.5% |
| Stocks and contracts in progress | 3 | €95,365 | €94,829 | -€536 | -0.6% |
| Stocks | 30/36 | €95,365 | €94,829 | -€536 | -0.6% |
| Amounts receivable within one year | 40/41 | €16,476 | €8,444 | -€8,032 | -48.7% |
| Trade receivables | 40 | €16,476 | €5,063 | -€11,413 | -69.3% |
| Other amounts receivable | 41 | - | €3,381 | +€3,381 | |
| Cash at bank and in hand | 54/58 | €33,079 | €64,004 | +€30,924 | +93.5% |
| Deferred charges and accrued income | 490/1 | €103 | €275 | +€173 | +168% |
| Total equity and liabilities | 10/49 | €174,781 | €186,808 | +€12,027 | +6.9% |
| Equity | 10/15 | €28,192 | €53,256 | +€25,064 | +88.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €8,192 | €33,256 | +€25,064 | +306% |
| Distributable reserves | 133 | €8,192 | €33,256 | +€25,064 | +306% |
| Amounts payable | 17/49 | €146,589 | €133,553 | -€13,037 | -8.9% |
| Amounts payable within one year | 42/48 | €146,589 | €133,553 | -€13,037 | -8.9% |
| Current portion of amounts payable after more than one year | 42 | €7,806 | - | -€7,806 | |
| Trade debts | 44 | €3,382 | €1,119 | -€2,263 | -66.9% |
| Suppliers | 440/4 | €3,382 | €1,119 | -€2,263 | -66.9% |
| Taxes, remuneration and social security | 45 | €5,402 | €2,434 | -€2,968 | -54.9% |
| Taxes | 450/3 | €5,402 | €2,434 | -€2,968 | -54.9% |
| Other amounts payable | 47/48 | €130,000 | €130,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,149 | €10,502 | -€647 | -5.8% |
| Other operating charges | 640/8 | €534 | €923 | +€389 | +72.8% |
| Non-recurring operating charges | 66A | €44,635 | - | -€44,635 | |
| Gross operating margin | 9900 | €51,944 | €43,375 | -€8,569 | -16.5% |
| Operating profit (loss) | 9901 | -€4,374 | €31,950 | +€36,324 | |
| Financial charges | 65/66B | €684 | €217 | -€467 | -68.3% |
| Recurring financial charges | 65 | €684 | €217 | -€467 | -68.3% |
| Profit (loss) for the period before taxes | 9903 | -€5,059 | €31,733 | +€36,791 | |
| Income taxes | 67/77 | €2 | €6,669 | +€6,667 | +419,306% |
| Profit (loss) for the period | 9904 | -€5,060 | €25,064 | +€30,124 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,060 | €25,064 | +€30,124 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.